Adobe to sack 750
By Asha

Software giant Adobe has announced a business update for its fourth quarter fiscal year 2011, ending Dec. 2, 2011.  The company also announced plans to further align its business around the explosive growth categories of Digital Media and Digital Marketing solutions.

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In order to better align resources around Digital Media and Digital Marketing, Adobe is restructuring its business. This will result in the elimination of approximately 750 full-time positions primarily in North America and Europe. We expect to record in the aggregate approximately $87 million to $94 million in pre-tax restructuring charges. Included in these charges are approximately $17 million to $19 million primarily related to the consolidation of leased facilities and approximately $70 million to $75 million related to employee severance arrangements. We expect to record approximately $73 million to $78 million of these charges in the fiscal quarter ending Dec. 2, 2011.
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